171 - The Big Bank Crisis of 2023: What Will It Do To Housing?!
How to Buy a Home: The #1 First Time Home Buyer Podcast
David Sidoni
4.8 • 891 Ratings
🗓️ 23 March 2023
⏱️ 27 minutes
🧾️ Download transcript
Summary
Okay, so you’ve seen it all in the news - big banks are in a crisis right now. According to the news, we’re all done for! But, is that really the case?
David Sidoni dives into research and data to give you the REAL story behind the bank failures and how this could affect the housing market for this year. Also, he throws it into a handy-dandy cheat sheet to help you understand this mess.
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David Sidoni, the "How to Buy a Home Guy," is a seasoned real estate professional and consumer advocate with over 18 years of experience helping first-time homebuyers navigate the real estate market. His podcast, "How to Buy a Home," is a trusted resource for anyone looking to buy their first home. It offers expert advice, actionable tips, and inspiring stories from real first-time homebuyers. With a focus on making the home-buying process accessible and understandable, David breaks down complex topics into easy-to-follow steps, covering everything from budgeting and financing to finding the right home and making an offer.
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Resources Mentioned
Bank Runs and Rescues: A Timeline of This Week’s Panics
Why Regular People Need to Know About SVB’s Sudden Closure
Ask a Nerd: How Will SVB’s Closure Affect Me?
Silicon Valley Bank, Proptech Hub For Real Estate Clients, Collapses
Mortgage Rates Nosedive In Fallout From Silicon Valley Bank Failure
Signature Becomes 2nd Major Real Estate-focused Bank To Fail
How SVB’s Collapse Could Impact Housing Market
SVB Collapse Set To Completely Upend Housing Market
How 3 Recent Bank Failures Could Impact Housing Market
Savers Could End Up Being Big Winners After SVB Collapse
Transcript
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| 0:00.0 | Oh no, the big banks are failing and we're all screwed. |
| 0:08.3 | Yes, that's the news. |
| 0:09.6 | That's what the headlines are saying, but how does this affect you? |
| 0:13.5 | You're trying to get your start in the world by buying your first home. |
| 0:16.9 | So should you be scared? |
| 0:18.6 | What are your next best moves? Let's find out. |
| 0:37.2 | What's happening in my How to Buy a Homies? |
| 0:39.9 | How are you, gang? |
| 0:40.9 | I'm your host, David Sedone. |
| 0:42.3 | And today was supposed to be another episode that I was going to drop here. |
| 0:46.0 | But on March 10th, you might have heard about a little run on a bank and then a subsequent |
| 0:52.0 | collapse of that one and another one and another one. |
| 0:55.5 | Look, of course, I understand banks collapsing. It's never a good thing, and it's not the kind |
| 1:00.1 | of news that you want to hear. And with the bank collapses of 2008 still fresh in some people's |
| 1:05.8 | minds, everybody's seeking some clarity on how this 2023 bank collapse affects all of us, |
| 1:14.3 | especially you homies out there who are trying to get your ducks in a row for this giant |
| 1:18.2 | financial decision that you've got coming. |
| 1:20.6 | It's scary enough being a first-time homebuyer. |
| 1:22.6 | Now you're a first-time home buyer when they're a run on banks. |
| 1:25.1 | So what I did was I decided to put this episode out |
| 1:29.3 | immediately. I spent the last week listening, reading, researching, and I put together a cheat |
| 1:34.4 | sheet for you to help understand this mess. I put the links to a bunch of different articles that I |
... |
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